4 Discussion Questions

Discussion Questions

a. Schultzs (2005) article provides a description of the typical budgeting care for. Explain the process in your own words. What change is the author advocateing to this process? Would you recommend introducing the change to your comp any? Why or why non?

For traditional financial institutions, the usual selling budgeting cycle (wherein succeeder can easily be measured by fiscal standards) is easy. For the marketing and communications sectors however, there is a debate as to what should be used as a measure of succeeder: should it be a matter of assessing the short term returns, or the long term impact? The traditional method of budgeting involves a pretty straightforward process: management determines how lots to set down in accordance to projected income, and hence they make the needed adjustments.

However, the lack of a concrete measure of conquest for marketing and communications means that manages could not really know how much to spend or invest. The author suggests that one useful court to this dilemma is to measure first at the beginning of the process, then budget later. The author proposes that success be measured use financial returns, specifically, how marketing and communications influence customer appearance in terms of dollars.

I would definitely recommend this process to my company, especially if my company does not have a specific dodging of success measurement in its marketing and communications areas. I believe that budget accountability is of the utmost importance to any company, and without a way of gauging how the money you put in impacts the success of the company, its almost like throwing money away.

b. Batarlas (2005) article describes zero-based and performance-based budgeting. Explain the processes and how they differ.

With zero-based budgeting or zero-based processing, data from previous years are not interpreted into account--budgeting is done in a...

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